Yan Sun

The corner space, an important area of underground commercial streets, not only converts space functions but also exerts a great impact on the space atmosphere by transforming the environmental quality of the commercial street space. Based on corner space investigations of several underground commercial streets in China, this paper constructs a realistic scene model using virtual reality technology and screens. This paper classifies the corner space elements of underground commercial streets through preliminary experiments. Based on the conclusions, different morphological models of the corner space were constructed by orthogonal experiments and virtual reality technology combined with psychology. A semantic differential was used to quantitatively evaluate and analyze the spatial experience cognition of the subjects. This enabled an analysis of the of underground commercial street corners’ relationship to the component elements and the visitors’ psychological perception of their spatial form.

We examine managers’ earnings forecasts for evidence of incentive alignment or subversion characteristics. We find that forecasts by managers compensated via relative performance (RP) goals are more likely to be pessimistic and less accurate than those by managers compensated via absolute performance (AP) goals. For firms not issuing earnings forecasts, disclosures in Form 10-Ks are more pessimistic for RP firms than for AP firms. Furthermore, we find that RP firms perform worse than AP firms in terms of future stock returns. Overall, our evidence is consistent with a proposition that, contrary to sound ethical business practices, RP managers make self-serving earnings disclosures to subvert the efforts of their peers to meet performance targets more easily.